crowdfund

8 Mistakes to Avoid For Successful Music Crowdfunding

[Editors Note: This article was written by Daniel Plentz, COO of MusicRaiser – a crowdfunding community for artists to raise money for their projects. It originally appeared on the Musicraiser blog.]

1. BUILD A PROJECT THAT IS NOT CLEAR

Would you eat a sandwich with ham, nutella and white truffle?

You are about to launch your campaign, but to fund what exactly? Set just ONE goal. Campaigns with too many purposes are messy and confuse your supporters. Keep in mind that your fans probably don’t know the difference between processes like “production”, “mastering”, “recording” etc. Therefore, you want to be as clear as possible.

2. ASK FOR MORE THAN WHAT YOU ACTUALLY NEED

Wouldn’t it be better, before climbing Mt. Everest, to train a bit on the hill behind your house? Your economic goal is to be realistic and proportioned to your fan base. It’s better to exceed your goal rather than not reaching it at all.

Before defining your economic goal, make an evaluation. Don’t try to raise a large sum if you only have 300 likes on Facebook.

3. HOPE FOR A MIRACLE

A crowdfunding campaign requires creativity during the “building process” and perseverance during the “fund-raising process”. A common mistake is to create a buzz before the campaign starts and then, after it’s been launched, forget about it, hoping that it “works by itself”. The reality is VERY different. Your fans will contribute only if they constantly perceive how important the project is for you. Be FOCUSED!

4. STRESS OUT YOUR FAN BASE

Would you call your girlfriend or boyfriend 50 times a day to ask her if she loves you? Probably not. Communication is the key. Use it cleverly. You are realizing a project that is very important to you. Make it understandable to those following you, without wind up being boring or repetitive. By the third identical message you send to your Facebook fans, don’t get upset if they un-friend you. You deserve it. How do you communicate in the correct way? One word: STORYTELLING. Tell your story in an engaging way that makes people feel as though they are a part of it. During the campaign, post pictures, stories, videos to thank your supporters and any other content that represents you, your everyday life and the project you want to realize. Building your campaign and storytelling go together. Remember that your story is the most important story in the world.

5. MAKE A BORING PRESENTATION VIDEO

Your presentation video is one of the most important parts of the campaign. It’s your calling card, the first element that will convince your fans to contribute to your campaign. Try to shortly present yourself, (no one is going to watch a video for more than 1.5-2 minutes), and explain why you need their contribution by expressing your passion. A nice video gets shared, becoming “viral”, and for you this means advertising. Make your video with the same creativity you use to write your music.

6. CREATE PLAIN REWARDS, SEEN OVER AND OVER AGAIN

Unless you are Arctic Monkeys, it’s likely that no one will care about your guitar pick. Of course people contribute to be part of your project, but also to receive the rewards they chose. So make sure your rewards are unique, original, and above all, EXCLUSIVE. Something that can’t be found anywhere else. Offer rewards that will surely interest your supporters. BE CREATIVE!

7. DON’T GET OFF TO A GOOD START

Exactly like during the first date, the first 5-minutes are the crucial ones. The start of a crowdfunding campaign indicates, most of the time, what the result will be. There’s never a second chance to make a good first impression. The higher percentage a campaign reaches during the first days, the more encouraged people will be to contribute to your success. A “sprint” is therefore essential during the first few hours. Address your closest network (Facebook friends, WhatsApp contacts, etc.) first. If they contribute, you’ll probably find new fans as well.

8. DELAY THE REWARDS DELIVERY

At the restaurant we don’t like to wait too long for the food we ordered. The same happens with crowdfunding. People trusted you by supporting your dream. Don’t make them grow old while waiting for your reward, and in case you are taking a long time, let them know in time!

For more info on crowdfunding your next project, check out Musicraiser’s site!

  • joann

    not bad

  • chris

    …lol i think i see lol….